Latest Financial performance News
Ford, facing economic headwinds and weak EV sales, to cut 4,000 jobs in Europe
FRANKFURT, Germany (AP) — Ford Motor Co. says it will reduce its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker than expected sales of electric cars. Ford said Wednesday most of the...
A tale of two retailers: Target reports sluggish spending while Walmart has a stellar quarter
NEW YORK (AP) — Target on Wednesday reported sluggish sales and slumping profits in the fiscal third quarter as inflation-weary customers curtailed their spending on apparel and other non-essential items. The Minneapolis retailer fell short of Wall Street expectations for the...
Walmart heads into official start of holiday season with strong momentum after robust 3Q results
NEW YORK (AP) — Walmart is heading into the official start of the holiday shopping season with strong tailwinds after ratcheting up better-than-expected fiscal third-quarter sales in many items including toys, home goods and groceries. The robust results, announced Tuesday,...
Home Depot's Q3 results top Wall Street as pullback in consumer spending eases a bit
Home Depot continued to deal with a pullback in spending from customers in its fiscal third quarter, but it was less severe than in the past, and its performance beat Wall Street's expectations. The home improvement retailer also boosted its full-year revenue outlook. Revenue for the...
Japanese automaker Nissan cuts 9,000 jobs as its vehicles fail to sell
TOKYO (AP) — Nissan reported Thursday a loss for the latest fiscal quarter as its vehicle sales sank while costs and inventory ballooned, prompting the Japanese automaker to slash 9,000 jobs. Chief Executive Makoto Uchida said he was taking a 50% pay cut to take responsibility for...
Nintendo reports lower profits as demand drops for its aging Switch console
TOKYO (AP) — Nintendo, the Japanese video game maker behind the Super Mario franchise, said Tuesday that its profit fell 60% in the first half of the fiscal year, as demand waned for its Switch console, now in its eighth year since going on sale. Kyoto-based Nintendo Co. reported a...
Warren Buffett is sitting on over $325 billion cash as Berkshire Hathaway keeps selling Apple stock
OMAHA, Neb. (AP) — Warren Buffett is now sitting on more than $325 billion cash after continuing to unload billions of dollars worth of Apple and Bank of America shares this year and continuing to collect a steady stream of profits from all of Berkshire Hathaway's assorted businesses without...
Financial market worries over the UK budget appear to ease
LONDON (AP) — Worries about this week's tax-raising U.K. budget within financial markets appeared to ease Friday with the interest rates charged on British debt steadying and the pound rising against most other currencies. In the wake of Wednesday's budget statement, the first by a...
Security tech company Evolv fires its chief executive
NEW YORK (AP) — Amid the backdrop of a sales misconduct investigation and other looming legal troubles, security technology company Evolv is now firing its CEO. Evolv's board of directors terminated chief executive Peter George on Wednesday, effective immediately, according to a...
Summer pullback in mortgage rates helped pave way for lower down payments for many homebuyers
LOS ANGELES (AP) — Homebuyers opted to make smaller down payments this summer as declining mortgage rates helped boost their purchasing power, though home shoppers’ upfront costs remain near their peak. The average down payment on a U.S. home as a percentage of the purchase price...
